(Health-NewsWire.Net, May 26, 2023 )
The report "Pharmaceutical Filtration Market by Product (Membrane, Depth filter), System (Single use, Reusable), Technique (Microfiltration, Nanofiltration), Application (API, Vaccine, Antibody), Scale of Operation (Manufacturing, Pilot, R&D) - Global Forecast to 2028", is projected to reach USD 26.2 billion by 2028 from USD 13.5 billion in 2023, at a CAGR of 14.2% during the forecast period of 2023 to 2028.
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The pharmaceutical filtration market is expected to grow at a CAGR of 14.2% during the forecast period. Growth in the pharmaceutical filtration market can be attributed to factors such as rapid growth in the R&D and manufacturing of biopharmaceuticals, growing adoption of single use filters, new product developments by key market players, growing filtration scrutiny by regulatory bodies, and advanced development in nano fiber technologies. Despite this, issues such as membrane fouling, and large capital investment required to set up new production facilities are expected to hinder market growth.
The single use systems segment accounted for the largest share of the systems segment in the pharmaceutical filtration market in 2022.
Based on products, the pharmaceutical filtration market is segmented into filters, systems, and other products. Filters segment accounted for the largest share of the pharmaceutical market, membrane filters are the key revenue contributors to this segment. Membrane filters are microporous plastic films with specific pore size ratings. These filters are used to separate contaminated particles from liquids. They are available in a variety of polymers, pore sizes, diameters, and surface types.
The nanofiltration segment accounted for the smallest share of the process segment in the pharmaceutical filtration market in 2022.
Based on technique, the pharmaceutical filtration market is segmented into microfiltration, ultrafiltration, nanofiltration, and other techniques. The other techniques segment includes reverse osmosis and ion exchange. The nanofiltration techniques accounted for the smallest market share of this market in 2022, and this can be primarily attributed to the limited retention for salts and univalent ions by nanofilters; nanofiltration membranes being comparatively more expensive than reverse osmosis membranes.
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The Asia Pacific region is the fastest-growing region of the pharmaceutical filtration market in 2021.
Based on the region, the Pharmaceutical filtration market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific is estimated to be the fastest-growing segment of the market owing to the rapid technology development in nanofiber technologies, expanding manufacturing of generics, growing government budget for R&D, and growing biotechnology industries.
Key players in the drug discovery service Market include Merck KGaA (Germany), Danaher Corporation (US), Sartorius AG (Germany), 3M (US), Thermo Fisher Scientific Inc. (US).
Mr. Aashish Mehra